A RUSSIAN delegation has recently visited Islamabad to explore the possibility of the ‘seamless’ flow of energy from Russia to Pakistan. It is not yet clear if energy supplies would be provided at a discounted rate. Nor is it decided how and in which currencies the payments would be settled. Apparently, it is just the beginning of the process and details are being worked out. Yet, this should be seen as a welcome development as it is in keeping with Pakistan’s policy of engaging with all major powers based on our national interests. However, it would be premature to celebrate because energy supplies are still months away, and that too if the details are negotiated successfully.
Russia is a resource-rich country but the West’s stringent sanctions have obliged it to turn to Asian states to sell its energy surpluses. Reports indicate that Moscow offered heavy discounts on oil sales to India, which grabbed the opportunity. China, too, availed of this lucrative offer and boosted its oil (and LNG) imports from Russia.